Fayette PVA David O'Neill

05/21/2026

When the corner of Richmond Road and Woodspoint looks more like the corner of Sunset and Roxbury (Beverly Hills).

https://fayettepva.com/

UPDATE:
Just to be clear, I like the house and look forward to watching it evolve. This was in no way posted in a negative spirit.

04/21/2026

The protest period is underway and continues through Monday, May 18.

Each year I strive to make the process easier and more accessible. You can file the protest and follow up with a PVA assessor 100% through email, at your leisure without ever leaving the house or picking up a phone.

The use of AI to generate explanations and arguments to support a protest continues to go up each year. Although it's not necessary, I encourage you to engage ChatGPT or other AI services if you feel it will help you formulate a response, consider the most pertinent items affecting value, use correct terminology and better understand basic appraising concepts and methodologies.

Here is a very obvious example I received today:
"The subject property is located in a neighborhood characterized by a wide variety of construction styles and features. Many of the listed comparable sales are notably different from the subject property in size and/or features, and many of them have had kitchen and bathroom upgrades (for example) that the subject property does not have. We understand that property values in general are rising, but respectfully request a review and re-evaluation of the proposed increase in taxable value for this parcel. Thank you for your consideration of this request."

Use whatever tools you're comfortable with to help make your points. Only you know the true condition of your home even if you don't know exactly how to express it. But you should approach it assuming the person on this end genuinely wants to help you and deliver what you would consider good customer service.

Remember, there is zero incentive for me to increase your assessment, only to make it accurate. There is nobody in this office concerned with whether a state or local government agency or the schools increase their property tax revenues. That's why PVA is an elected position.

Send a message to learn more

01/14/2026

LEGISLATURE CONSIDERS UPDATING THE HOMESTEAD EXEMPTION

UPDATE: SB51 received a favorable vote in the State & Local Government Committee to advance in the state senate.

Kentucky’s Homestead Exemption (“HEX”) needs an update. The exemption reduces the taxable value of the primary residence for seniors and the disabled by a fixed dollar amount that is adjusted every two years based on the consumer price index. Unfortunately, the consumer price index has not kept pace with the inflated housing prices seen across the country over the past few decades. I estimate the value of the HEX, as a percentage of your home's value, in only half what it was when introduced in 1972.

Several bills have been introduced in Frankfort again this year, the first of which will receive public discussion before the Senate’s State & Local Government Committee Wednesday morning at 11am. Here is the link to watch a live stream:

https://ket.org/live/

For the most part, legislative fixes for the HEX fall into one of two categories: 1.) Reset the dollar amount of exemption (currently at $49,100) or 2.) freeze the assessments for HEX recipients at their current levels or for future recipients, freeze the assessed value at the time the HEX is awarded.

The most significant consideration regarding the various approaches is their immediate and future impacts on the various taxing districts (local and state governments, schools and first responders) and the taxpayers in general. A freeze would have little immediate impact but rather would just limit increases in the overall tax roll going forward and likely causing tax rates to increase more than they would otherwise. But, increasing the amount of the HEX would likely cause an immediate drop in the tax roll causing tax rates to increase across the board to compensate and keep taxing districts not only whole but allow for a 4% increase which is baked into our property tax laws. One bill proposes to increase the exemption from it’s current $49,100 to $100,000 potentially doubling the cost of the HEX to the taxpayers – all at once. Obviously, both approaches have plusses and minuses and deserve significant attention by the legislators.

I will closely follow Homestead Exemption legislation and provide updates here when warranted.

10/24/2025

HOMESTEAD EXEMPTIONS BY ZIP CODE

A realtor asked me which zip code has the most Homestead Exemptions. The results were interesting, so I'm sharing them with you too.

Based on raw numbers, 40509 has the most, but as a percentage 40510 wins. There are almost 24,000 Homestead recipients in total, which is about 24% of all single-family homes.

The Homestead Exemption benefits homeowners 65 years old or older by reducing the taxable value of their home. The reduction is a set dollar amount tied to the consumer price index and increased every odd-numbered year. For 2025, the taxable values are reduced by $49,100, which results in a savings of about $600 per year.

The value of the Homestead has fallen far behind the rate of inflation in home prices and is in serious need of an adjustment - something I will be working toward and talking a lot about over the next couple years.

10/07/2025

WHERE ARE TAX DISTRICTS 8 & 9?

Many of you have asked why districts 8 & 9 pay less property tax, so here's the explanation.

If you pay property tax on a home in Fayette County you are in Districts 1 through 7 (75% of all residential property is in District 1, and District 2 is rural and farm parcels). Districts 8 & 9 are for special situations like leasehold interests and industrial revenue bonds. There are no properties in District 8 currently. District 9, which is specifically for properties involved in industrial revenue bonds only includes the new hotel on Manchester Street currently.

The rest of us all pay the same rates except for differences in the urban services we receive like garbage collection, street sweeping and street lights.

10/01/2025

RECENT AFFORDABLE HOME SALES

Here's another look at recent home sales at the most affordable end of the price scale. In August, 16 houses sold for $120,000 or less - 12 of the 16, or 75% were purchased by an LLC. In fact, most homes sold in August at or below $150,000 were bought by LLCs.

If you are struggling to find a property in this price range, perhaps browse this list or create your own sales query at FayettePVA.com, see who the buyers are and reach out to them. I do not know which of these LLCs are buy-and-hold investors versus wholesalers who might sell to the public at large, but it might be worth asking them.

You can look up ownership information about LLCs and other entity types on the Kentucky Secretary of State's website and I have added a link to that lookup page on the FayettePVA site.

URLs for the 16 Sales
https://FayettePVA.com/pva_id/17270490
https://FayettePVA.com/pva_id/14240400
https://FayettePVA.com/pva_id/12183200
https://FayettePVA.com/pva_id/15452500
https://FayettePVA.com/pva_id/11986800
https://FayettePVA.com/pva_id/42331400
https://FayettePVA.com/pva_id/11036000
https://FayettePVA.com/pva_id/11018000
https://FayettePVA.com/pva_id/20649025
https://FayettePVA.com/pva_id/13936300
https://FayettePVA.com/pva_id/14027073
https://FayettePVA.com/pva_id/16744100
https://FayettePVA.com/pva_id/35877500
https://FayettePVA.com/pva_id/22428725
https://FayettePVA.com/pva_id/16376200
https://FayettePVA.com/pva_id/19345760

09/17/2025

While we await this afternoon's Fed announcement on interest rates and how they might affect the housing and broader markets, here's an update on the lowest priced new construction we've seen here so far in 2025.

The only option under $275,000 was a townhouse - about 1,600 square feet, 3 bed 2 bath for $265,000. However, all seven of the other townhouses in this development sold for $275,000.

For a detached home, You could have picked up a new infill build with 1,100 square feet, 3 bed and 2 baths on W. Fifth St. for $275,000.

For a new build detached in a subdivision, the same group that brought us 2024's most affordable new build, offered 1,300 square feet, 3 bed and 2 bath for $289,900. There were three more of those in the Thoroughbred subdivision expansion area, but they sold for $300,000 and up.

09/11/2025

Tax rates have been finalized for the 2025 property tax bills, which should hit your mailboxes the last week of September. You can see the new rates and estimate your bill with the Tax Calculator at FayettePVA.com

REMINDER: I have already delivered the tax bill data to the county clerk to print the bills, so if you purchased your property on or after August 22, 2025, your tax bill may have been sent to the previous owner. If you do not have a tax bill by the second week of October, let my office or the sheriff's office know to send a copy.

08/14/2025

FED RATES ARE NOT MORTGAGE RATES

With so much discussion of whether the Fed will or will not lower interest rates, there is a misperception that the Fed are keeping mortgage rates high.

In reality, the Fed lowered rates three times late last year. But each time they lowered their rates, 30-year mortgage rates inched up. In all, the Fed lowered rates more than 100 basis points since September 2024, but mortgage rates are 50 basis points higher.

Whether the Fed should cut rates for other economic reasons is a fair debate, but do not expect an immediate change in mortgage rates.

08/05/2025

See this month's Chevy Chaser, Southsider and Business Lexington magazines for a more detailed explanation regarding the multiple tax bills, resulting issues with escrow payments and what you should know as we head into tax rate setting season.

Also includes sales statistics from featured neighborhoods.

https://smileypete.com/community/making-sense-of-recent-property-tax-issues/